(A) Generate the "Birthdays" of 30 Different People, Assuming That

question 81

Essay

(A) Generate the "birthdays" of 30 different people, assuming that each person has a 1/365 chance of having a given birthday (call the days of the year 1, 2, 3, ……..,365). You can use a formula involving the DISCRETE and RAND functions to generate birthdays.
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(B) Once you have generated 30 people's birthdays, you can tell whether at least two people have the same birthday using Excel's RANK function (i.e., in the case of a tie, two numbers are given the same rank). Do you see any people with the same birthday in your sample?
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(C) Obtain at least 20 samples of the 30-person group using the F9 key. What do you estimate the probability of finding two people with the same birthday in a sample of 30 people to be?

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Definitions:

Simple Interest

A method of calculating the interest charge on a loan or financial investment based on the initial principal and a fixed interest rate over time.

Interest Rate

The proportion, typically expressed as a percentage, at which interest is charged on a loan or paid on savings.

Like Terms

Terms that have the same variables raised to the same power, which can be combined by adding or subtracting the coefficients.

Parentheses

Parentheses are symbols used in mathematics to group terms or to indicate the order of operations.